The Singapore Exchange's Nifty futures contract suggests that local stocks are off to a bad start. The contract was down 80 points or 0.44% from the previous close, trading at 18,144.50.
Watch for earnings on Wednesday from a number of well-known firms, including ABB India, Godrej Properties, Havells India, Jyothy Labs, MRF, KEC International, Petronet, Sona BLW, Sula Vineyards, Tata Chemicals, and Titan.
Aviation: After Wadia-owned Go First filed for bankruptcy due to a liquidity shortage brought on by the grounding of over half of its 57 aircraft, shares of Airlines will be closely watched today. The airline immediately placed the responsibility for the action completely on engine maker Pratt & Whitney and grounded all flights until Thursday.
Tata Steel: As steel spreads across regions suffered, the steel giant recorded an 82.5% YoY decline in consolidated net profit to Rs. 1,704.86 crore for Q4FY23. Revenue decreased 9.2% to Rs 62,961.54 crore. However, the revenue and profit figures exceeded forecasts.
Bharti Airtel: The Sunil Mittal-led telecoms company, which launched operations in Sri Lanka in 2009, announced the merger of Bharti Airtel Lanka's operations with Dialog, a unit of Malaysia's Axiata Group Berhad, a worldwide telecommunications giant. Airtel will likely get access to a wider customer base in the island country as a result of the move.
In the January–March quarter (Q4), Punjab & Sind Bank's net profit increased 32% YoY to Rs 457 crore while its interest income increased 17% to Rs 2,105 crore.
Max Healthcare Institute: After its bid to buy Care Hospitals was rejected, the business filed a lawsuit in the Bombay High Court against Touch Healthcare, Quality Care India, and the Evercare Group management for claimed breach of contract.
Sugar: Cooperative sugar mills have requested an increase in the minimum selling price (MSP) of sugar in a letter to Prime Minister Narendra Modi in an effort to boost their cash flow and make it easier to pay producers' debts for sugarcane. In accordance with previous increases in the fair and remunerative price (FRP) of sugarcane, the cooperative industries are asking that the MSP be increased from the current Rs 31 per kilogram to at least Rs 37.20-39.70.
Adani Total Gas: For the quarter that ended in March, Adani Total Gas recorded a consolidated net profit of Rs 98 crore, an increase of 21% over the same time the previous year.
Coforge: Coforge Ltd's promoter Baring Private Equity Asia sold its 3.5% ownership for Rs 887 crore on the open market.
UCO Bank: For the fourth quarter, public sector lender UCO Bank reported its highest-ever net profit of Rs 1,862.34 crore.
Hindustan Zinc: According to Reuters, Hindustan Zinc's attempt to purchase certain zinc assets from Vedanta Group for $2.98 billion in cash failed since the Indian miner was unable to get the necessary shareholder approval in time.
